Hyderabad second largest real estate hub in 2023: report
The HinduIn 2023, Hyderabad emerged as the second-largest real estate hub in India, experiencing a 49% year-on-year growth in the sale of housing, according to the ‘Real Insight Residential – Annual Round-up 2023 ‘ report released by PropTiger.com. The report, which analysed data from eight major cities across India, highlighted Ahmedabad as the leading city with a 51% growth, followed closely by Hyderabad at 49%, Bengaluru at 44%, Pune at 33%, Mumbai at 29%, Kolkata at 16%, Delhi NCR at 11%, and Chennai at 5%. “Despite initial challenges, such as rising interest rates, escalating input costs and surging real estate prices amid global uncertainties, the industry demonstrated exceptional resilience. The Reserve Bank of India’s decision to pause rate hikes in April 2023 played a crucial role in boosting buyer confidence,” said Mr. Vikas Wadhawan, Group CFO of Housing.com, Makaan.com and PropTiger.com.